Wang Jianlin is China's richest man for the third time out of the past four years. He is taking steps to build out his Dalian Wanda entertainment and real estate empire. In a mid-October visit to Los Angeles, Wang announced he would offer a 40% production rebate for movies and TV shows that shoot at his new megastudio in Qingdao. This follows Wang's January purchase of L.A. production firm Legendary Entertainment and his 2012 acquisition of U.S. movie house chain AMC Theatres. Wang, who spent his youth in the military, made his initial fortune in real estate. His Dalian Wanda Commercial Property is the country's largest commercial real estate developer; it delisted from the Hong Kong exchange in September and may relist on a mainland exchange. In May he launched theme park Wanda City in Nanchang, and has plans for 15 theme parks in China and 5 overseas. In September, Wanda broke ground on a $900 million, 95-story structure in Chicago that will be the city's third-tallest building. More »

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China’s richest man Wang Jianlin said his Dalian Wanda Group hasn’t benefited from political ties in response to a New York Times story detailing the investments relatives of Chinese President Xi Jinping made in his company.

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The expansion of China’s online retail sector, which grew to RMB 12.3 trillion ($1.9 trillion) in 2014, has led many observers to predict dire consequences for bricks-and-mortar commerce in the country.

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